Eric S. Fain Sells 2,000 Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Director Eric S. Fain sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $5.64, for a total transaction of $11,280.00. Following the transaction, the director now directly owns 44,810 shares in the company, valued at approximately $252,728.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Orchestra BioMed Price Performance

Shares of OBIO opened at $5.69 on Thursday. The firm’s 50 day moving average is $6.89 and its 200-day moving average is $6.23. The stock has a market capitalization of $203.63 million, a P/E ratio of -3.84 and a beta of 0.44. Orchestra BioMed Holdings, Inc. has a 12-month low of $4.22 and a 12-month high of $11.69.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.04). The business had revenue of $0.78 million during the quarter, compared to analyst estimates of $1.04 million. Orchestra BioMed had a negative return on equity of 89.28% and a negative net margin of 2,673.26%. As a group, equities research analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in shares of Orchestra BioMed by 115.7% in the second quarter. Bank of New York Mellon Corp now owns 70,682 shares of the company’s stock worth $576,000 after buying an additional 37,906 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Orchestra BioMed by 8.4% in the second quarter. The Manufacturers Life Insurance Company now owns 42,082 shares of the company’s stock worth $343,000 after buying an additional 3,245 shares during the period. Rhumbline Advisers boosted its holdings in shares of Orchestra BioMed by 192.7% in the second quarter. Rhumbline Advisers now owns 26,439 shares of the company’s stock worth $215,000 after buying an additional 17,405 shares during the period. Catalytic Wealth RIA LLC acquired a new position in shares of Orchestra BioMed in the first quarter worth about $117,000. Finally, SkyView Investment Advisors LLC acquired a new position in shares of Orchestra BioMed in the second quarter worth about $163,000. 53.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OBIO has been the topic of several research analyst reports. HC Wainwright initiated coverage on shares of Orchestra BioMed in a research note on Thursday, August 22nd. They set a “buy” rating and a $14.00 target price on the stock. B. Riley initiated coverage on shares of Orchestra BioMed in a research note on Thursday, July 25th. They set a “buy” rating and a $15.00 target price on the stock. Finally, Chardan Capital reissued a “buy” rating and set a $20.00 target price on shares of Orchestra BioMed in a research note on Wednesday, June 12th.

About Orchestra BioMed

Orchestra BioMed Holdings, Inc operates as a biomedical innovation company. The company's flagship product candidates include BackBeat Cardiac Neuromodulation Therapy (CNT) for the treatment of hypertension (HTN); and Virtue Sirolimus AngioInfusion Balloon (SAB) for the treatment of atherosclerotic artery disease.